Many consumers have been seeking assistance from various forms of debt and have searched for national debt relief programs that can help with their current debt situation. There are many individuals who have debt associated with credit cards, mortgages, car loans, or personal loans and, as a result, many men and women have seen this debt grow due to interest rates and become unmanageable in some cases.
Economic and job troubles have caused many consumers a great deal of difficulty in their personal financial life as some have only been able to meet minimum payments on various forms of credit, which again, allows interest rates to accrue and can cost more over the long run. Also, instanced often arise where some consumers have simply been unable to pay what they to various creditors. Yet, there are advertisements for national debt relief programs that give many of these consumers hope despite the fact that there are warnings against some of these type of programs.
There are numerous nonprofit organizations that are set in place to provide credit counseling or debt relief assistance to individuals who are struggling with their personal finances. However, fraudulent companies have also arisen who have offered to help consumers erase their debt for pennies on the dollar, through specialized plans which consumers use by paying directly through a debt relief program, or some of these companies simply advise consumers to stop paying their creditors and will charge a fee to cleanup their financial life.
Since many men and women have faced various trials over the past months, due mainly to unemployment or bad financial practices, there have been analysts and organizations like the FTC who have cautioned consumers against these debt relief services. Again, nonprofit credit counseling and debt assistance agencies do exist, but consumers have been warned against unsolicited offers from debt relief programs or claims that governmental debt relief legislation will somehow magically erase their debt problems.
While there are consumers who need help with their debt, these people are often advised to heavily research any company or organization with which they choose to do business when concerning their personal finances and debt.